Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Do you currently drive a 2019 Ford Ranger and live in Michigan?
A reporter would like to talk to you; please reach out to [email protected] for more details.

Help with BMW x4 lease

chwtomchwtom Posts: 39
edited October 2015 in BMW
I am looking at a 2016 bmw x4. MSRP is 54,895. Selling price is 50,067. I plan to put 2,000 down.
We have 5% sales tax in Wisconsin, and tax is added and calculated on the monthly payment.

I am seeing a MF of 0.0013 and a residual of 57% on a 3 year 12k lease.

The dealer is quoting a monthly payment of 660. Using online lease calculators I get 600.

I am trading in a car, I owe 8500 and they are giving me 28500, so they'll give me a check for the difference. Maybe theres sales tax on that? Can't figure out what I'm missing.

Answers

  • kyfdxkyfdx Posts: 120,318
    chwtom said:

    I am looking at a 2016 bmw x4. MSRP is 54,895. Selling price is 50,067. I plan to put 2,000 down.
    We have 5% sales tax in Wisconsin, and tax is added and calculated on the monthly payment.

    I am seeing a MF of 0.0013 and a residual of 57% on a 3 year 12k lease.

    The dealer is quoting a monthly payment of 660. Using online lease calculators I get 600.

    I am trading in a car, I owe 8500 and they are giving me 28500, so they'll give me a check for the difference. Maybe theres sales tax on that? Can't figure out what I'm missing.

    .00134 MF and 57% residual.

    1st payment, $925 acquisition fee, title/registration.. That's not going to leave much of your $2000 for CAP reduction.

    If we assume that the sale price is also the CAP cost, I get a payment of $630+tax, which is pretty close to their quote of $660. Perhaps the calculator is attributing the full $2000 to CAP cost reduction? $2000 due at signing is not the same as $2000 down payment.

    Doesn't seem like your trade-in should have anything to do with sales tax on a lease.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • chwtomchwtom Posts: 39
    Thanks for the help!
Sign In or Register to comment.